MIRA INFORM REPORT

Report No. :	319184
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	SRI VARSHA FOOD PRODUCTS INDIA LIMITED

Registered Office :	D.NO. 19-3-13/9, 4^thFloor, Tirupathi -517501, Andhra Pradesh
Tel No. :	91-877-2100304

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	03.11.2008

Com. Reg. No.:	01-061664

Capital Investment / Paid-up Capital :	Rs. 87.975 Million

CIN No.: [Company Identification No.]	U15132AP2008PLC061664

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAMCS4995H

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturing and Exporting of Fruit Pulps.

No. of Employees :	72 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 450000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. The company has continued to perform well during FY 2014. The sales turnover of the company grew by 78% during year under review. Profit margin of the company is fair. However, reserves of the company seem to be low. Trade relations reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Ramesh
Designation :	Commercial officer
Contact No.:	91-877-2100304
Date :	24.04.2015

LOCATIONS

Registered Office :	D.NO. 19-3-13/9, 4^thFloor, Tirupathi- -517501, Andhra Pradesh, India
Tel. No.:	91-877-2100304
Mobile No.:	91-7680900963 (Mr. Ratna Kumar)
Fax No.:	Not Available
E-Mail :	srivasha99@gamil.com sarma_19592004@yahoo.co.in madangopalfca@yahoo.co.in v4u.compliance@gmail.com
Website :	http://www.srivarsha.com

Factory :	S.N. Puarm Village, Puttur Road, Renigunta, Chittor District – 517520, Andhra Pradesh, India
Tel. No.:	91-877-2100304,2101305
Area :	umapathi4S@gmail.com srivarsha99@gmail.com

Head Office :	D.NO. 19-3-13/9, 4^thFloor, Ramanuja Circle, Tiruchanoor Road, Tirupathi -517501, Andhra Pradesh, India

DIRECTORS

As on 26.09.2014

Name :

Kasturi Viswanadha Naidu

Designation :

Director

Address :

5-325/1, Gayathri Nagar, Tirupathi – 517501, Andhra Pradesh, India

Date of Birth/Age :

06.01.1955

Date of Appointment :

03.11.2008

DIN No.:

01134617

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U93090TN1960PTC004178	SURCOT INDUSTRIES PRIVATE LIMITED	Managing director	30/01/2003	30/01/2003	-	Active	NO
2	U45200TG1996PTC023406	VARSHA VISWANATH PROPERTIES PRIVATE LIMITED	Director	01/04/2005	01/04/2005	09/08/2014	Active	NO
3	U15132AP2008PLC061664	SRI VARSHA FOOD PRODUCTS INDIA LIMITED	Director	03/11/2008	03/11/2008	-	Active	NO
4	U15400AP2012PLC078665	SREE VISWAAS AGRO BIOTECH INDIA LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
5	U01403AP2014PTC093933	Sri Varsha Farmers Producer Company Limited	Director	30/03/2014	30/03/2014	-	Active	NO

Name :

Pradeep Kumar Veera Palli

Designation :

Whole-Time Director

Address :

8-52/1, Padmavathipuram, Tirupati – 517501, Andhra Pradesh, India

Date of Birth/Age :

15.04.1964

Date of Appointment :

01.10.2009

DIN No.:

05122340

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15132AP2008PLC061664	SRI VARSHA FOOD PRODUCTS INDIA LIMITED	Whole-time director	01/10/2009	01/10/2009	-	Active	NO
2	U15400AP2012PLC078665	SREE VISWAAS AGRO BIOTECH INDIA LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
3	U01403AP2014PTC093933	Sri Varsha Farmers Producer Company Limited	Director	30/03/2014	30/03/2014	-	Active	NO

Name :

Sivaji Rao Ramineni

Designation :

Director

Address :

10-67, Maruthi Nagar, Tirupathi – 517501, Andhra Pradesh, India

Date of Birth/Age :

10.12.1955

Date of Appointment :

03.11.2008

DIN No.:

02321080

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45200TG1996PTC023406	VARSHA VISWANATH PROPERTIES PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
2	U15132AP2008PLC061664	SRI VARSHA FOOD PRODUCTS INDIA LIMITED	Director	03/11/2008	03/11/2008	-	Active	NO
3	U15400AP2012PLC078665	SREE VISWAAS AGRO BIOTECH INDIA LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
4	U01403AP2014PTC093933	Sri Varsha Farmers Producer Company Limited	Director	30/03/2014	30/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Commercial officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders		No. of Shares
Kasturi Viswanadha Nadu		5138590
R Sivaji Rao		30000
V Umapathi		1028000
R Appaji Naidu		20000
C Nanda Gopal		310000
V Pradeep Kumar		1144975
R Subhash Chandra		20000
W Properties Private Limited		1000000
Eswaraiah		105900
Total		8797465

As on 26.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	11.37
Directors or relatives of Directors	88.63
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Exporting of Fruit Pulps.

Products :

Product Description	Item Code No. (ITC Code)
Fruit Pulp	22029020

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Fruit Pulps

Countries :

Middle East
USA
Europe
South Africa

Imports :

Products :

Packing Machine

Countries :

Atlantica

Terms :

Selling :

Cash and Cheque

Purchasing :

Cash and Cheque

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

72 (Approximately)

Bankers :

Bank Name	Indian Overseas Bank
Branch	V.V. Mahal Road, Tirupati – 517501, Andhra Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from bank	118.079	121.525

SHORT TERM BORROWING
Working capital from bank	194.954	199.145

Total	313.033	320.670

Auditors :
Name :	MMG S and Associates Chartered Accountants
Address :	Flat # 103, Sri Kattu Towers, Reddy and Reddy Colony, Tirupathi – 517501, Andhra Pradesh, India
PAN No.:	AAKFM6604N

Memberships :	Not Available

Collaborators :	Not Available

Enterprises in which Key Management Personnel and / or their relatives have significant influence :	Varsha Viswanath Properties Private Limited Rasamadhuri Food Products

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000,000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

8,797,465	Equity Shares	Rs.10/- each	Rs. 87.975 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	87.975	67.416	67.416
(b) Reserves & Surplus	71.241	45.533	32.614
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	20.559	1.559
Total Shareholders’ Funds (1) + (2)	159.216	133.508	101.589

(3) Non-Current Liabilities
(a) long-term borrowings	118.079	121.525	160.689
(b) Deferred tax liabilities (Net)	6.271	6.271	6.271
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	124.350	127.796	166.960

(4) Current Liabilities
(a) Short term borrowings	194.954	199.145	190.122
(b) Trade payables	102.014	36.596	32.359
(c) Other current liabilities	27.000	21.200	46.999
(d) Short-term provisions	12.373	10.018	5.303
Total Current Liabilities (4)	336.341	266.959	274.783

TOTAL	619.907	528.263	543.332

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	159.982	161.747	167.640
(ii) Intangible Assets	0.015	0.000	0.000
(iii) Capital work-in-progress	14.143	8.214	21.690
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	5.185	4.749	3.414
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	8.349	7.641	4.824
Total Non-Current Assets	187.674	182.351	197.568

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	206.722	180.774	157.349
(c) Trade receivables	166.173	85.815	62.045
(d) Cash and cash equivalents	13.375	2.335	21.274
(e) Short-term loans and advances	43.818	74.237	102.786
(f) Other current assets	2.145	2.751	2.310
Total Current Assets	432.233	345.912	345.764

TOTAL	619.907	528.263	543.332

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	914.982	513.398	362.103
	Other Income	6.982	9.187	7.415
	TOTAL (A)	921.964	522.585	369.518

Less	EXPENSES
	Cost of Materials Consumed	771.547	351.46	206.265
	Purchases of Stock-in-Trade	49.893	23.236	103.469
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(50.560)	4.024	(57.722)
	Employees benefits expense	13.022	11.987	12.259
	Other expenses	26.761	20.566	13.392
	Prior Period Items	2.983	2.619	0.193
	TOTAL (B)	813.646	411.273	277.663

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	108.318	111.312	91.855

Less	FINANCIAL EXPENSES (D)	46.158	63.058	44.926

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	62.160	48.254	46.929

Less/ Add	DEPRECIATION/ AMORTISATION (F)	30.474	30.607	35.676

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	31.686	17.647	11.253

Less	TAX (I)	5.977	2.11	-0.992

	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	25.709	15.537	12.245

	EARNINGS IN FOREIGN CURRENCY	129.400	46.373	NA

	Earnings / (Loss) Per Share (Rs.)	2.92	1.92	NA

Particulars

31.03.2015

Sales Turnover (Approximately)

1000.000

The above information has been parted by Mr. Ratan Kumar

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.81	3.03	3.38

Operating Profit Margin (PBDIT / Sales)	(%)	11.84	21.68	25.37

Return on Total Assets (PBT/Total Assets}	(%)	5.28	3.42	2.17

Return on Investment (ROI) (PBT/Networth)		0.20	0.13	0.11

Debt Equity Ratio (Total Debt /Networth)		1.97	2.40	3.45

Current Ratio (Current Asset/Current Liability)		1.29	1.30	1.26

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	67.416	67.416	87.975
Reserves & Surplus	32.614	45.533	71.241
	1.559	20.559	0.000
Net worth	101.589	112.949	159.216

long-term borrowings	160.689	121.525	118.079
Short term borrowings	190.122	199.145	194.954
Total borrowings	350.811	320.670	313.033
Debt/Equity ratio	3.453	2.839	1.966

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	362.103	513.398	914.982
		41.782	78.221

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	362.103	513.398	914.982
Profit	12.245	15.537	25.709
	3.38%	3.03%	2.81%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS:

The Company achieved a turnover of Rs.915.000 million during the current year, as against Rs. 522.600 million during the previous year registering a growth of 75 % over the previous year. The Exports during the year has been Rs. 129.400 Millions as against Rs.46.300 million during the previous year 2012-13. However the increase in the cost of raw material adversely impacted the profitability and stressed the margins. Your company has earned a net profit after tax of Rs.25.700 million against Previous year net profit after tax of Rs.12.900 million the company has bagged good orders for Tomato Paste, Mango Pulp, White guava and Banana from Multinational Companies. Hopeful of better results in the coming years.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10490524	31/07/2014 *	95,000,000.00	SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA	101, HERMITAGE OFFICE COMPLEX, 1ST FLOOR, SAIFABA D, HYDERABAD, ANDHRA PRADESH - 500004, INDIA	C13928064
2	10237923	09/07/2010	100,000,000.00	INDIAN OVERSEAS BANK	V.V.MAHAL ROAD, TIRUPATI, ANDHRA PRADESH - 517501, INDIA	A91424598
3	10224380	13/02/2014 *	396,500,000.00	INDIAN OVERSEAS BANK	I# 630, V V MAHAL ROAD, TIRUPATHI, CHITTOOR, ANDH RA PRADESH - 517501, INDIA	C03934643

* Date of charge modification

FIXED ASSETS:

· Plant and Machinery

· Building

· Computers

· Furniture and Fixtures

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.48

INFORMATION DETAILS

Information Gathered by :	KMN

Analysis Done by :	SUM

Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

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